Absa launches WhatsApp banking in South Africa – here’s how it works

Along with a new brand and strategy in Africa, Absa has also introduced a first for South Africa – banking via WhatsApp.

Speaking at a press briefing at the Absa brand launch, the bank confirmed that the WhatsApp banking service is a part of the group’s digital banking strategy going forward.

WhatsApp recently made a push into banking and transactional services with its WhatsApp Pay services, which launched in one of its biggest markets – India – in May.

A number of banking institutions in India, notably private lender Kotak Mahindra Bank, have trialled using the platform for banking services, but it is understood that Absa is the first to fully launch the service anywhere in the world.

According to the group, as part of its ‘social media banking‘, clients will be able to perform instant transactions using the bank’s ChatBanking service, available on Facebook Messenger, Twitter and now WhatsApp.

The service allows clients to get their bank balance, buy electricity, purchase airtime and data, and also pay beneficiaries.